Good entry point for NZDUSD / +600p Trade

21 באוק׳ 2020

NZDUSD failed to exit the falling channel.
The price began to fall back into the falling channel and now NZDUSD is near the resistance line.
This is a good deal since
1) Good risk to reward ratio
2) The entry point is clearly visible
3) The trend is falling

Perhaps some will recognize the familiar head and shoulders pattern (although there are two tops instead of one head).

The bottom line is that there was an attempt to break through the line, but the attempt failed.

I draw an important support line.
It is best to open Sell after breaking this line.
(+ for those who did not have time to sell from the upper line of the falling channel, then you can sell after breaking this support line)